Alma Platinum IV CQS Asian Macro

The Alma CQS Asian Macro fund is a discretionary macro strategy focussed on capitalising on investment opportunities arising from markets and economies of the Asia Pacific region (Australia, New Zeland, Japan, India, China and southeast Asia). The fund is run by Geoffrey Baker who joined CQS in 2019 and has been managing the strategy since 2006. His investment approach is contrarian, value-oriented in nature, and combines strategic thinking with tactical trading. For strategic views, the PM uses primarily fundamental data to identify under/overvalued markets (relative to history), cycle analysis, liquidity analysis, and positioning data. Tactical trading is then informed by technical analysis and a set of proprietary “stress indicators” (risk-on and risk-off pairs e.g. Copper vs. Gold), which are monitored on a daily/weekly basis to better understand the current market regime. The final portfolio is fairly focussed, with 2-3 core macro themes at any given time and 10-15 positions, trading highly liquid instruments across asset classes (equities, bonds, currencies, and commodities).